Swiss Investor Boosts Stake in Studsvik With ‘Growth Agenda’
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(Bloomberg) — Swiss investor Daniel Aegerter has boosted his stake in the Swedish nuclear technical services firm Studsvik AB to just under 30% and is pursuing an “ambitious growth agenda” amid a resurgence in the industry.
SNB Set to Cut to Zero But Shirk From Negative Rate for Now
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(Bloomberg) — The Swiss National Bank will probably lower its interest rate to zero this week and stay there for some time, a Bloomberg survey of economists showed, just as new government forecasts pointed to persistently slow inflation.
Julius Baer’s New CEO Takes on Old Guard to Revamp Swiss Bank
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(Bloomberg) — On his first day as chief executive officer, Stefan Bollinger told staff at Julius Baer Group Ltd. that they shouldn’t be afraid to speak up and reach out to him if there was anything that needed changing. He received more than 1,000 emails.
Sarepta Reports Second Death of Patient Using Its Gene Therapy
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(Bloomberg) — Sarepta Therapeutics Inc. said a second patient has died of acute liver failure after being treated with its gene therapy for a rare muscle disorder.
Switzerland’s Likely Rate Cut to Zero Threatens to Test Banks
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(Bloomberg) — The Swiss National Bank’s next cut in borrowing costs may be about to cause a headache for banks, if officials end up experimenting with their first-ever interest rate of zero.
Stocks Sink, Oil Jumps as Mideast Tensions Build: Markets Wrap
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(Bloomberg) — Wall Street buckled as reports of Iran’s retaliation for Israel’s attack on its nuclear facilities deepened concerns that the conflict is escalating, with oil jumping and stocks taking a hit.
Swiss Industrials Company Sika Sees Big India Opportunity
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(Bloomberg) — Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.
Switzerland’s Government Approves Contentious EU Deal
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(Bloomberg) — The Swiss government approved the country’s new bilateral deal with the European Union, which was hammered out late last year after long negotiations with the bloc.
Chinese Firms in Talks to Join Group for Li Ka-Shing’s Ports
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(Bloomberg) — China’s largest shipping company is among the firms in talks to invest in a multinational consortium seeking to buy billionaire Li Ka-shing’s global ports, according to people familiar with the matter, in an effort to ease Beijing’s concerns over the controversial deal.
Bond Rally Gains Steam on Strong $22 Billion Sale: Markets Wrap
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(Bloomberg) — A solid sale of long-term Treasuries reduced fears that spiraling deficits are causing investors to shun the bonds, with the market also gaining as soft inflation fueled bets the Federal Reserve will cut rates should the economy decelerate. The dollar hit a three-year low. Stocks rose.
S&P 500 Halts Rally Near Record as Big Tech Swoons: Markets Wrap
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(Bloomberg) — A slide in big tech dragged down stocks, following a rally that drove the S&P 500 to a striking distance of its all-time highs. Earlier gains were fueled by surprisingly benign inflation data that stoked bets on Federal Reserve rate cuts, spurring a drop in bond yields.
UBS Expects Gradual Rule Change on Swiss Deferred Tax Assets
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(Bloomberg) — Newly-proposed rules on how to value deferred tax assets will likely be introduced gradually, UBS Group AG Chief Financial Officer Todd Tuckner said, in a step that would delay their impact on the bank’s capital requirements.
Swiss Senate Eases Arms Export Rules Amid Industry Struggles
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(Bloomberg) — Switzerland’s senate approved proposals to loosen strict controls on exports of war materials, a move that could help its increasingly isolated defense industry.
S&P 500 Gains as Lutnick Signals US-China Progress
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(Bloomberg) — Wall Street investors closely monitoring trade discussions between the US and China drove stocks higher as Commerce Secretary Howard Lutnick said negotiations went really, really well. Treasuries and the dollar saw small moves ahead of a key inflation report.
Glencore Drives Drawdown of Russian Copper Sanctioned by UK
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(Bloomberg) — The London Metal Exchange has reported the biggest drawdown of Russian copper from its network of warehouses since it started reporting the data in 2023, as Glencore Plc bought metal to deliver to China.
UBS Declines as Analysts Warn Capital Rules to Hurt Buybacks
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(Bloomberg) — UBS Group AG fell the most in two months as analyst warned that new capital demands imposed by Switzerland could crimp the bank’s competitiveness and its ability to make investor payouts.
Traders Wary of Bold Bets Drag Credit Volatility Near Record Low
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(Bloomberg) — Credit investors are eschewing bold bets, with a lack of conviction over the fallout from recent trade ructions dragging volatility toward an all-time low.
Europe’s IPO Drought Has Stock Exchanges Battling for Listings
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(Bloomberg) — As fewer large companies opt to go public in Europe, the region’s stock exchanges are fighting harder to win the biggest listings.
